Biogen in-licensed Vanqua Bio’s preclinical C5aR1 antagonist for $70 million up front, with up to $990 million in milestone payments and tiered royalties. The deal gives Biogen exclusive worldwide rights and hands development, manufacturing and commercialization responsibilities to the large-cap drugmaker. Vanqua will retain focus on its neuroscience pipeline while benefiting from Biogen’s clinical and commercial scale. Biogen framed the agreement as a strategic expansion into innate-immunity targets, citing preclinical evidence that C5aR1 modulates inflammatory responses across multiple disease areas. Company statements indicate an IND filing is targeted in the 2027 timeframe contingent on additional preclinical data. Analysts at William Blair called the asset “intriguing” given C5aR1’s validation in inflammatory disorders.